MB 125: The 5 Pillars of Elevated Wealth – With Brian Fouts

If the extent of your financial education involved learning how to be a good employee, trading your time for money, then you’re probably beginning to realize that you simply can’t save yourself into wealth. But how do the multimillionaires and billionaires among us grow their assets? What strategies do they implement to generate passive income—from multiple sources? Brian Fouts has identified the shared patterns among high-net-worth individuals, what he calls the 5 Pillars of Elevated Wealth, and he is on a mission to share this information with you and me.

Brian is the co-owner and CEO of The Elevation Group, an online membership platform that seeks to teach the world how to invest like the rich. Brian and his brother Jake are passionate about empowering people to create and grow wealth by way of financial literacy, and The Elevation Group affords access to a network of true expert advisors who can support you in implementing the investment strategies of the wealthiest among us.

Today, Brian sits down with me to share the 5 Pillars of Elevated Wealth. He explains how to generate supplemental income through a side hustle and put that money to work for you. Brian addresses the importance of safeguarding the money you have through entity protections and tax incentives. Finally, he describes how to acquire assets that generate passive income and why it’s smart to pursue multiple sources of revenue. Listen in for Brian’s advice around keeping your money in a life insurance vehicle and learn how The Elevation Group can help you build wealth by way of portfolio and passive income!

Key Takeaways

How Brian got involved with EVG

Started as member, blown away by vision

Platform brings together expert advisors

Financial education and empowerment

The 1st Pillar of Elevated Wealth: Do something different

Create impact in world

Generate income through side hustle

Shift mindset away from trading time for money

The 2nd Pillar of Elevated Wealth: Take the money off the table

Become own bank and put money to work

Can take advantage of opportunities when presented

The 3rd Pillar of Elevated Wealth: Protect what you have

Safeguard money through entity protections

Pay less taxes (i.e.: rent home to business)

The 4th Pillar of Elevated Wealth: Acquire assets to earn passive income